Credit Risk Analyst Surety (Hybrid; m/f/x/d)

Are you passionate about financial analysis and eager to make a meaningful impact in a global environment? Join our Credit & Surety team, where your analytical expertise will directly influence underwriting decisions and support clients across global markets. As we continue to transform the surety insurance business through AI, data-driven insights and innovative solutions, we are looking for talented professionals to be part of this journey.

About the Role

We are looking for a high-performing Credit Risk Analyst to join the Credit Product Centre (CPC) in Madrid.

This role sits at the heart of underwriting decision-making and offers a unique opportunity to work on

complex credit transactions across geographies and sectors.

You will combine fundamental credit analysis with commercial insight to support underwriting decisions particularly in the area of surety insurance, contribute to portfolio monitoring, and drive efficiency through AI, data and technology.

Key Responsibilities

Credit Assessment & Appetite

• Perform in-depth credit analysis and internal rating assessments of corporate obligors across industries and geographies

• Evaluate financing structures and transaction risks, providing clear and actionable recommendations to underwriters

• Recommend credit limits in line with internal risk appetite, policies, and governance standards

• Identify key risk drivers, mitigants, and early warning signals

Portfolio Monitoring & Risk Management

• Monitor existing exposures and assess the impact of market, sector, and company-specific developments

• Identify deteriorating risks and recommend watchlist actions or risk mitigation strategies

• Contribute to portfolio-level insights, including sector trends and concentration risks

Stakeholder Collaboration

• Partner closely with underwriting, risk management and actuarial teams globally

• Communicate credit views effectively to support timely and informed decision-making

• Build strong working relationships across regions and functions

Operational Excellence & Transformation

• Drive efficiency in credit processes, improving turnaround times and consistency of outputs

• Contribute to data-driven and AI-enabled transformation initiatives within Credit & Surety

• Support development and enhancement of tools, methodologies, and credit frameworks

About the Team

The Credit Product Centre (CPC) is a global team supporting the Credit & Surety business across regions. The team plays a critical role in:

• Delivering high-quality credit risk assessments for underwriting decisions

• Driving strategic initiatives in risk analytics and portfolio insights

• Ensuring consistency, governance, and best practices across the credit process

• Supporting pricing, monitoring, and portfolio steering

The team operates globally with presence in multiple key locations and works closely with senior stakeholders across underwriting, risk, and functional areas.

About You

You're an analytical thinker with strong financial acumen and a passion for understanding global markets.

You thrive in collaborative environments while maintaining independent judgment and can effectively communicate complex financial concepts to diverse stakeholders. Your curiosity drives you to continuously develop your skills and knowledge in this evolving field.

We are looking for candidates who meet these requirements:

• 6–10 years of experience in credit analysis and credit-related work

• Strong academic background with a relevant business degree and/or post-graduate qualification (MBA/CFA/Chartered Accountant or similar)

• Strong quantitative and analytical skills with good command of English, Spanish and German.

• Proficient in financial spreading, financial projections, and handling credit application documents

• Good knowledge of global macroeconomics, financial markets, and credit-related products

• Experience handling multiple priorities and meeting deadlines in a fast-paced environment

• Demonstrated ability to assign and defend independent credit opinions and risk ratings

These are additional nice to haves:

• Knowledge of corporate loans, structured financing, and surety bond products

• Experience assessing complex corporate groups, ownership structures, and subsidiaries

• Knowledge of agency rating methodologies

• Experience in credit analysis of asset/fund managers, private equity/venture capital firms

• Prior experience in risk analytics and quantitative credit analysis

• Digital transformation project experience

• Good command of French or Italian

• Working knowledge of database management tools and strong Excel skills

For Spain, the base salary range for this position is between 42 000 EUR and 70 000 EUR for a full-time role.

The specific salary offered considers:

• The requirements, scope, complexity and responsibilities of the role

• The applicant's own profile including education/qualifications, expertise, specialisation, skills and experience

In situations where you do not meet all the requirements or you significantly exceed these, the offered salary may be below or above the advertised range. In addition to your base salary, you may be eligible for additional rewards and benefits including an attractive performance-based annual bonus.

Our company has a hybrid work model where the expectation is that you will be in the office at least three days per week.